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Release Date:   March 29, 2012
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FEDERAL RESERVE statistical release

H.4.1

Factors Affecting Reserve Balances of Depository Institutions and
Condition Statement of Federal Reserve Banks

March 29, 2012
1. Factors Affecting Reserve Balances of Depository Institutions
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks		 Averages of daily figures Wednesday
Mar 28, 2012
Week ended
Mar 28, 2012		 Change from week ended
Mar 21, 2012 Mar 30, 2011
Reserve Bank credit 2,872,714 + 1,487 + 275,330 2,860,948
    Securities held outright 1 2,609,857 + 220 + 216,018 2,598,175
        U.S. Treasury securities 1,667,941 + 5,464 + 344,708 1,664,911
            Bills 2 18,423 0 0 18,423
            Notes and bonds, nominal 2 1,571,722 + 5,387 + 331,311 1,568,664
            Notes and bonds, inflation-indexed 2 68,667 0 + 11,018 68,667
            Inflation compensation 3 9,129 + 77 + 2,379 9,158
        Federal agency debt securities 2 96,837 - 2,155 - 35,658 96,478
        Mortgage-backed securities 4 845,079 - 3,089 - 93,032 836,786
    Repurchase agreements 5 0 0 0 0
    Loans 7,077 - 302 - 12,286 7,061
        Primary credit 4 - 8 - 7 1
        Secondary credit 0 0 0 0
        Seasonal credit 5 - 1 0 3
        Term Asset-Backed Securities Loan Facility 6 7,067 - 295 - 12,279 7,056
        Other credit extensions 0 0 0 0
    Net portfolio holdings of Maiden Lane LLC 7 5,422 + 51 - 20,167 5,417
    Net portfolio holdings of Maiden Lane II LLC 8 19 - 1,157 - 15,887 19
    Net portfolio holdings of Maiden Lane III LLC 9 17,450 + 14 - 5,470 17,455
    Net portfolio holdings of TALF LLC 10 831 + 5 + 113 831
    Float -835 + 13 + 332 -946
    Central bank liquidity swaps 11 65,069 - 524 + 65,069 65,068
    Other Federal Reserve assets 12 167,825 + 3,169 + 47,609 167,868
Gold stock 11,041 0 0 11,041
Special drawing rights certificate account 5,200 0 0 5,200
Treasury currency outstanding 13 44,366 + 14 + 581 44,366
 
Total factors supplying reserve funds 2,933,321 + 1,501 + 275,911 2,921,554
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


1. Factors Affecting Reserve Balances of Depository Institutions (continued)
Millions of dollars
Reserve Bank credit, related items, and
reserve balances of depository institutions at
Federal Reserve Banks		 Averages of daily figures Wednesday
Mar 28, 2012
Week ended
Mar 28, 2012		 Change from week ended
Mar 21, 2012 Mar 30, 2011
Currency in circulation 13 1,096,554 + 412 + 93,182 1,098,319
Reverse repurchase agreements 14 85,084 - 8,886 + 20,904 83,227
    Foreign official and international accounts 85,084 - 7,815 + 21,585 83,227
    Others 0 - 1,071 - 681 0
Treasury cash holdings 159 - 4 - 53 150
Deposits with F.R. Banks, other than reserve balances 150,890 + 8,395 + 84,222 103,554
    Term deposits held by depository institutions 3,057 + 3,057 + 3,057 3,057
    U.S. Treasury, General Account 84,043 - 18,445 + 25,528 68,452
    U.S. Treasury, Supplementary Financing Account 0 0 - 5,000 0
    Foreign official 137 + 7 + 12 127
    Service-related 1,937 - 16 - 576 1,937
        Required clearing balances 1,937 - 16 - 576 1,937
        Adjustments to compensate for float 0 0 0 0
    Other 61,717 + 23,792 + 61,201 29,981
Other liabilities and capital 15 74,114 - 1,328 + 1,432 73,236
 
Total factors, other than reserve balances,
    absorbing reserve funds		 1,406,800 - 1,412 + 199,686 1,358,486
 
Reserve balances with Federal Reserve Banks 1,526,521 + 2,913 + 76,225 1,563,069
Note: Components may not sum to totals because of rounding.


1. 
Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. 
Face value of the securities.
3. 
Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Cash value of agreements.
6. 
Includes credit extended by the Federal Reserve Bank of New York to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
7. 
Refer to table 4 and the note on consolidation accompanying table 9.
8. 
Refer to table 5 and the note on consolidation accompanying table 9.
9. 
Refer to table 6 and the note on consolidation accompanying table 9.
10. 
Refer to table 7 and the note on consolidation accompanying table 9.
11. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
12. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates, and the fair value adjustment to credit extended by the FRBNY to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
13. 
Estimated.
14. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
15. 
Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury. Refer to table 8 and table 9.

Sources: Federal Reserve Banks and the U.S. Department of the Treasury.


1A. Memorandum Items
Millions of dollars
Memorandum item Averages of daily figures Wednesday
Mar 28, 2012
Week ended
Mar 28, 2012		 Change from week ended
Mar 21, 2012 Mar 30, 2011
Marketable securities held in custody for foreign
    official and international accounts 1		 3,474,148 - 3,110 + 66,535 3,474,615
    U.S. Treasury securities 2,740,870 + 289 + 98,743 2,740,634
    Federal agency securities 2 733,278 - 3,399 - 32,208 733,981
Securities lent to dealers 19,779 + 487 - 674 20,944
    Overnight facility 3 19,779 + 487 - 674 20,944
        U.S. Treasury securities 19,062 + 481 - 249 20,232
        Federal agency debt securities 717 + 6 - 426 712
Note: Components may not sum to totals because of rounding.


1. 
Face value of the securities. Includes U.S. Treasury STRIPS and other zero-coupon bonds at face value and mortgage-backed securities at original face value.
2. 
Includes debt and mortgage-backed securities.
3. 
Fully collateralized by U.S. Treasury securities.

2. Maturity Distribution of Securities, Loans, and Selected Other Assets and Liabilities, March 28, 2012
Millions of dollars
Remaining maturity Within 15
days		 16 days to
90 days		 91 days to
1 year		 Over 1 year
to 5 years		 Over 5 years
to 10 years		 Over 10
years		 All
Loans 1 5 570 4,387 2,099 0 ... 7,061
U.S. Treasury securities 2  
    Holdings 14,488 30,546 52,099 574,954 711,708 281,117 1,664,911
    Weekly changes - 2,503 + 2,506 - 1,628 - 6,980 + 4,043 + 5,990 + 1,427
Federal agency debt securities 3  
    Holdings 0 4,994 19,061 59,094 10,982 2,347 96,478
    Weekly changes - 2,514 + 629 - 629 0 0 0 - 2,514
Mortgage-backed securities 4  
    Holdings 0 0 1 10 97 836,678 836,786
    Weekly changes 0 0 0 - 1 - 2 - 14,472 - 14,474
Asset-backed securities held by
    TALF LLC 5		 0 0 0 0 0 0 0
Repurchase agreements 6 0 0 ... ... ... ... 0
Central bank liquidity swaps 7 40,273 24,795 0 0 0 0 65,068
   
Reverse repurchase agreements 6 83,227 0 ... ... ... ... 83,227
Term deposits 0 3,057 0 ... ... ... 3,057
Note: Components may not sum to totals because of rounding.

. . . Not applicable.


1. 
Excludes the loans from the Federal Reserve Bank of New York (FRBNY) to Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC. The loans were eliminated when preparing the FRBNY's statement of condition consistent with consolidation under generally accepted accounting principles.
2. 
Face value. For inflation-indexed securities, includes the original face value and compensation that adjusts for the effect of inflation on the original face value of such securities.
3. 
Face value.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Face value of asset-backed securities held by TALF LLC, which is the remaining principal balance of the underlying assets.
6. 
Cash value of agreements.
7. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.

3. Supplemental Information on Mortgage-Backed Securities
Millions of dollars
Account name Wednesday
Mar 28, 2012
Mortgage-backed securities held outright 1 836,786
 
Commitments to buy mortgage-backed securities 2 43,724
Commitments to sell mortgage-backed securities 2 0
 
Cash and cash equivalents 3 117
1. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
2. 
Current face value. Generally settle within 180 days and include commitments associated with outright transactions, dollar rolls, and coupon swaps.
3. 
This amount is included in other Federal Reserve assets in table 1 and in other assets in table 8 and table 9.

4. Information on Principal Accounts of Maiden Lane LLC
Millions of dollars
Account name Wednesday
Mar 28, 2012
Net portfolio holdings of Maiden Lane LLC 1 5,417
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 2,150
Accrued interest payable to the Federal Reserve Bank of New York 2 763
Outstanding principal amount and accrued interest on loan payable to JPMorgan Chase & Co. 3 1,402
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2011. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. 
Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. 
Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9.

Note: On June 26, 2008, the Federal Reserve Bank of New York (FRBNY) extended credit to Maiden Lane LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to acquire certain assets of Bear Stearns and to manage those assets through time to maximize repayment of the credit extended and to minimize disruption to financial markets. Payments by Maiden Lane LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of the LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to JPMorgan Chase & Co., and interest due to JPMorgan Chase & Co. Any remaining funds will be paid to the FRBNY.


5. Information on Principal Accounts of Maiden Lane II LLC
Millions of dollars
Account name Wednesday
Mar 28, 2012
Net portfolio holdings of Maiden Lane II LLC 1 19
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 0
Accrued interest payable to the Federal Reserve Bank of New York 2 0
Deferred payment and accrued interest payable to subsidiaries of American International Group, Inc. 3 0
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2011. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. 
Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. 
Book value. The deferred payment represents the portion of the proceeds of the net portfolio holdings due to subsidiaries of American International Group, Inc. in accordance with the asset purchase agreement. The fair value of this payment and accrued interest payable are included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9.

Note: On December 12, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane II LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. (AIG subsidiaries). Payments by Maiden Lane II LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane II LLC, principal due to the FRBNY, interest due to the FRBNY, and deferred payment and interest due to AIG subsidiaries. Any remaining funds will be shared by the FRBNY and AIG subsidiaries.


6. Information on Principal Accounts of Maiden Lane III LLC
Millions of dollars
Account name Wednesday
Mar 28, 2012
Net portfolio holdings of Maiden Lane III LLC 1 17,455
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 8,271
Accrued interest payable to the Federal Reserve Bank of New York 2 721
Outstanding principal amount and accrued interest on loan payable to American International Group, Inc. 3 5,585
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date. Revalued quarterly. This table reflects valuations as of December 31, 2011. Any assets purchased after this valuation date are initially recorded at cost until their estimated fair value as of the purchase date becomes available.
2. 
Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. 
Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9.

Note: On November 25, 2008, the Federal Reserve Bank of New York (FRBNY) began extending credit to Maiden Lane III LLC under the authority of section 13(3) of the Federal Reserve Act. This limited liability company was formed to purchase multi-sector collateralized debt obligations (CDOs) on which the Financial Products group of American International Group, Inc. (AIG) has written credit default swap (CDS) contracts. In connection with the purchase of CDOs, the CDS counterparties will concurrently unwind the related CDS transactions. Payments by Maiden Lane III LLC from the proceeds of the net portfolio holdings will be made in the following order: operating expenses of Maiden Lane III LLC, principal due to the FRBNY, interest due to the FRBNY, principal due to AIG, and interest due to AIG. Any remaining funds will be shared by the FRBNY and AIG.


7. Information on Principal Accounts of TALF LLC
Millions of dollars
Account name Wednesday
Mar 28, 2012
Asset-backed securities holdings 1 0
Other investments, net 831
Net portfolio holdings of TALF LLC 831
 
Outstanding principal amount of loan extended by the Federal Reserve Bank of New York 2 0
Accrued interest payable to the Federal Reserve Bank of New York 2 0
Funding provided by U.S. Treasury to TALF LLC, including accrued interest payable 3 110
1. 
Fair value. Fair value reflects an estimate of the price that would be received upon selling an asset if the transaction were to be conducted in an orderly market on the measurement date.
2. 
Book value. This amount was eliminated when preparing the Federal Reserve Bank of New York's statement of condition consistent with consolidation under generally accepted accounting principles. Refer to the note on consolidation accompanying table 9.
3. 
Book value. The fair value of these obligations is included in other liabilities and capital in table 1 and in other liabilities and accrued dividends in table 8 and table 9.

Note: On November 25, 2008, the Federal Reserve announced the creation of the Term Asset-Backed Securities Loan Facility (TALF) under the authority of section 13(3) of the Federal Reserve Act. The TALF is a facility under which the Federal Reserve Bank of New York (FRBNY) extends loans with a term of up to five years to holders of eligible asset-backed securities. The TALF is intended to assist financial markets in accommodating the credit needs of consumers and businesses by facilitating the issuance of asset-backed securities collateralized by a variety of consumer and business loans. The loans provided through the TALF to eligible borrowers are non-recourse, meaning that the obligation of the borrower can be discharged by surrendering the collateral to the FRBNY. The loans are extended for the market value of the security less an amount known as a haircut. As a result, the borrower bears the initial risk of a decline in the value of the security.


TALF LLC is a limited liability company formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a TALF loan. TALF LLC has committed, for a fee, to purchase all asset-backed securities received by the FRBNY in conjunction with a TALF loan at a price equal to the TALF loan plus accrued but unpaid interest. Losses on asset-backed securities held by TALF LLC will be offset in the following order: by the commitment fees collected by TALF LLC, by the interest received on investments of TALF LLC, by up to $4.3 billion in subordinated debt funding provided by the U.S. Treasury, and finally, by senior debt funding provided by the FRBNY. Payments by TALF LLC from the proceeds of its net portfolio holdings will be made in the following order: operating expenses of TALF LLC, principal due to the FRBNY, principal due to the U.S. Treasury, interest due to the FRBNY, and interest due to the U.S. Treasury. Any remaining funds will be shared by the FRBNY and the U.S. Treasury.


8. Consolidated Statement of Condition of All Federal Reserve Banks
Millions of dollars
Assets, liabilities, and capital Eliminations from
consolidation		 Wednesday
Mar 28, 2012		 Change since
Wednesday
Mar 21, 2012		 Wednesday
Mar 30, 2011
Assets  
    Gold certificate account   11,037 0 0
    Special drawing rights certificate account   5,200 0 0
    Coin   2,319 - 8 + 137
    Securities, repurchase agreements, and loans   2,605,236 - 15,800 + 182,888
        Securities held outright 1   2,598,175 - 15,562 + 195,080
            U.S. Treasury securities   1,664,911 + 1,427 + 331,466
                Bills 2   18,423 0 0
                Notes and bonds, nominal 2   1,568,664 + 1,350 + 319,440
                Notes and bonds, inflation-indexed 2   68,667 0 + 9,674
                Inflation compensation 3   9,158 + 77 + 2,353
            Federal agency debt securities 2   96,478 - 2,514 - 36,017
            Mortgage-backed securities 4   836,786 - 14,474 - 100,369
        Repurchase agreements 5   0 0 0
        Loans   7,061 - 238 - 12,193
    Net portfolio holdings of Maiden Lane LLC 6   5,417 - 5 - 20,171
    Net portfolio holdings of Maiden Lane II LLC 7   19 0 - 15,922
    Net portfolio holdings of Maiden Lane III LLC 8   17,455 + 6 - 5,472
    Net portfolio holdings of TALF LLC 9   831 0 + 113
    Items in process of collection (63) 36 - 88 - 115
    Bank premises   2,383 - 2 + 164
    Central bank liquidity swaps 10   65,068 - 525 + 65,068
    Other assets 11   165,461 + 1,892 + 47,184
 
Total assets (63) 2,880,463 - 14,528 + 253,874
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


8. Consolidated Statement of Condition of All Federal Reserve Banks (continued)
Millions of dollars
Assets, liabilities, and capital Eliminations from
consolidation		 Wednesday
Mar 28, 2012		 Change since
Wednesday
Mar 21, 2012		 Wednesday
Mar 30, 2011
Liabilities  
    Federal Reserve notes, net of F.R. Bank holdings   1,056,418 + 944 + 92,427
    Reverse repurchase agreements 12   83,227 - 2,661 + 17,416
    Deposits (0) 1,666,599 - 12,923 + 143,211
        Term deposits held by depository institutions   3,057 + 3,057 + 3,057
        Other deposits held by depository institutions   1,564,982 + 20,353 + 106,817
        U.S. Treasury, General Account   68,452 - 18,720 + 9,251
        U.S. Treasury, Supplementary Financing Account   0 0 - 5,000
        Foreign official   127 - 17 - 4
        Other (0) 29,981 - 17,595 + 29,089
    Deferred availability cash items (63) 983 + 22 - 712
    Other liabilities and accrued dividends 13   18,802 - 9 - 321
 
Total liabilities (63) 2,826,029 - 14,628 + 252,022
 
Capital accounts  
    Capital paid in   27,217 + 50 + 926
    Surplus   27,217 + 50 + 926
    Other capital accounts   0 0 0
 
Total capital   54,434 + 100 + 1,852
Note: Components may not sum to totals because of rounding.


1. 
Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. 
Face value of the securities.
3. 
Compensation that adjusts for the effect of inflation on the original face value of inflation-indexed securities.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. 
Refer to table 4 and the note on consolidation accompanying table 9.
7. 
Refer to table 5 and the note on consolidation accompanying table 9.
8. 
Refer to table 6 and the note on consolidation accompanying table 9.
9. 
Refer to table 7 and the note on consolidation accompanying table 9.
10. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
11. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
12. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
13. 
Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation accompanying table 9. Also includes the liability for interest on Federal Reserve notes due to U.S. Treasury.


9. Statement of Condition of Each Federal Reserve Bank, March 28, 2012
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City		 Dallas San
Francisco
Assets  
    Gold certificate account 11,037 390 3,866 432 450 872 1,394 854 319 197 318 728 1,217
    Special drawing rights certificate acct. 5,200 196 1,818 210 237 412 654 424 150 90 153 282 574
    Coin 2,319 58 116 159 164 413 202 327 35 60 172 227 385
    Securities, repurchase agreements,
        and loans		 2,605,236 63,883 1,215,319 89,003 70,182 300,063 193,155 154,294 49,176 39,930 69,113 102,758 258,360
        Securities held outright 1 2,598,175 63,880 1,208,263 89,003 70,182 300,063 193,155 154,294 49,176 39,930 69,113 102,758 258,359
            U.S. Treasury securities 1,664,911 40,934 774,255 57,033 44,973 192,280 123,774 98,872 31,512 25,587 44,287 65,847 165,556
                Bills 2 18,423 453 8,567 631 498 2,128 1,370 1,094 349 283 490 729 1,832
                Notes and bonds 3 1,646,489 40,481 765,688 56,402 44,475 190,153 122,404 97,777 31,163 25,304 43,797 65,119 163,724
            Federal agency debt securities 2 96,478 2,372 44,866 3,305 2,606 11,142 7,172 5,729 1,826 1,483 2,566 3,816 9,594
            Mortgage-backed securities 4 836,786 20,574 389,141 28,665 22,603 96,640 62,209 49,693 15,838 12,860 22,259 33,095 83,209
        Repurchase agreements 5 0 0 0 0 0 0 0 0 0 0 0 0 0
        Loans 7,061 3 7,056 0 0 0 0 0 0 0 0 0 1
    Net portfolio holdings of Maiden
        Lane LLC 6		 5,417 0 5,417 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane II LLC 7		 19 0 19 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of Maiden
        Lane III LLC 8		 17,455 0 17,455 0 0 0 0 0 0 0 0 0 0
    Net portfolio holdings of TALF LLC 9 831 0 831 0 0 0 0 0 0 0 0 0 0
    Items in process of collection 99 6 0 46 28 3 -58 16 4 7 4 11 32
    Bank premises 2,383 122 472 67 125 230 213 204 133 105 258 244 212
    Central bank liquidity swaps 10 65,068 2,281 20,989 5,644 4,810 13,460 3,721 1,736 532 265 647 1,042 9,940
    Other assets 11 165,461 4,361 73,028 7,052 5,673 21,530 11,880 8,970 2,880 2,294 3,983 6,016 17,793
    Interdistrict settlement account 0 + 730 + 230,294 + 8,486 - 5,652 - 121,296 - 33,937 - 10,507 - 7,363 - 13,598 - 14,901 + 2,073 - 34,330
 
Total assets 2,880,526 72,028 1,569,624 111,098 76,018 215,687 177,224 156,317 45,866 29,351 59,747 113,382 254,184
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


9. Statement of Condition of Each Federal Reserve Bank, March 28, 2012 (continued)
Millions of dollars
Assets, liabilities, and capital Total Boston New York Philadelphia Cleveland Richmond Atlanta Chicago St. Louis Minneapolis Kansas
City		 Dallas San
Francisco
Liabilities  
    Federal Reserve notes outstanding 1,233,752 43,820 436,308 48,243 59,875 102,629 143,727 92,815 33,314 22,696 36,813 78,776 134,736
        Less: Notes held by F.R. Banks 177,334 4,785 62,112 6,087 7,783 11,116 26,601 12,073 4,201 4,209 3,476 11,149 23,740
            Federal Reserve notes, net 1,056,418 39,034 374,196 42,156 52,091 91,513 117,126 80,742 29,113 18,487 33,337 67,627 110,995
    Reverse repurchase agreements 12 83,227 2,046 38,704 2,851 2,248 9,612 6,187 4,942 1,575 1,279 2,214 3,292 8,276
    Deposits 1,666,599 28,064 1,125,305 61,244 17,030 102,590 50,027 68,609 14,512 8,935 23,396 41,185 125,705
        Term deposits held by depository
            institutions		 3,057 15 2,094 451 0 43 5 8 0 76 0 5 361
        Other deposits held by depository
            institutions		 1,564,982 28,048 1,024,803 60,779 17,026 102,465 50,019 68,567 14,511 8,858 23,394 41,178 125,332
        U.S. Treasury, General Account 68,452 0 68,452 0 0 0 0 0 0 0 0 0 0
        U.S. Treasury, Supplementary
            Financing Account		 0 0 0 0 0 0 0 0 0 0 0 0 0
        Foreign official 127 1 100 3 3 8 2 1 0 0 0 1 6
        Other 29,981 0 29,856 10 1 73 0 32 0 0 1 1 6
    Deferred availability cash items 1,046 36 0 90 97 18 194 28 23 251 30 64 216
    Interest on Federal Reserve notes due
        to U.S. Treasury 13		 1,667 -10 805 71 58 227 126 41 29 24 44 63 190
    Other liabilities and accrued
        dividends 14		 17,135 213 13,261 280 263 810 508 415 174 156 189 288 577
 
Total liabilities 2,826,092 69,383 1,552,271 106,692 71,788 204,770 174,167 154,777 45,427 29,132 59,210 112,518 245,959
 
Capital  
    Capital paid in 27,217 1,323 8,677 2,203 2,115 5,458 1,528 770 220 110 269 432 4,113
    Surplus 27,217 1,323 8,677 2,203 2,115 5,458 1,528 770 220 110 269 432 4,113
    Other capital 0 0 0 0 0 0 0 0 0 0 0 0 0
 
Total liabilities and capital 2,880,526 72,028 1,569,624 111,098 76,018 215,687 177,224 156,317 45,866 29,351 59,747 113,382 254,184
Note: Components may not sum to totals because of rounding. Footnotes appear at the end of the table.


9. Statement of Condition of Each Federal Reserve Bank, March 28, 2012 (continued)

1. 
Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.
2. 
Face value of the securities.
3. 
Includes the original face value of inflation-indexed securities and compensation that adjusts for the effect of inflation on the original face value of such securities.
4. 
Guaranteed by Fannie Mae, Freddie Mac, and Ginnie Mae. Current face value of the securities, which is the remaining principal balance of the underlying mortgages.
5. 
Cash value of agreements, which are collateralized by U.S. Treasury and federal agency securities.
6. 
Refer to table 4 and the note on consolidation below.
7. 
Refer to table 5 and the note on consolidation below.
8. 
Refer to table 6 and the note on consolidation below.
9. 
Refer to table 7 and the note on consolidation below.
10. 
Dollar value of foreign currency held under these agreements valued at the exchange rate to be used when the foreign currency is returned to the foreign central bank. This exchange rate equals the market exchange rate used when the foreign currency was acquired from the foreign central bank.
11. 
Includes other assets denominated in foreign currencies, which are revalued daily at market exchange rates and the fair value adjustment to credit extended by the Federal Reserve Bank of New York (FRBNY) to eligible borrowers through the Term Asset-Backed Securities Loan Facility.
12. 
Cash value of agreements, which are collateralized by U.S. Treasury securities, federal agency debt securities, and mortgage-backed securities.
13. 
Represents the estimated weekly remittances to U.S Treasury as interest on Federal Reserve notes or, in those cases where the Reserve Bank's net earnings are not sufficient to equate surplus to capital paid-in, the deferred asset for interest on Federal Reserve notes. The amount of any deferred asset, which is presented as a negative amount in this line, represents the amount of the Federal Reserve Bank's earnings that must be retained before remittances to the U.S. Treasury resume. The amounts on this line are calculated in accordance with Board of Governors policy, which requires the Federal Reserve Banks to remit residual earnings to the U.S. Treasury as interest on Federal Reserve notes after providing for the costs of operations, payment of dividends, and the amount necessary to equate surplus with capital paid-in.
14. 
Includes the liabilities of Maiden Lane LLC, Maiden Lane II LLC, Maiden Lane III LLC, and TALF LLC to entities other than the Federal Reserve Bank of New York, including liabilities that have recourse only to the portfolio holdings of these LLCs. Refer to table 4 through table 7 and the note on consolidation below.


Note on consolidation:


The Federal Reserve Bank of New York (FRBNY) has extended loans to several limited liability companies under the authority of section 13(3) of the Federal Reserve Act. On June 26, 2008, a loan was extended to Maiden Lane LLC, which was formed to acquire certain assets of Bear Stearns. On November 25, 2008, a loan was extended to Maiden Lane III LLC, which was formed to purchase multi-sector collateralized debt obligations on which the Financial Products group of the American International Group, Inc. has written credit default swap contracts. On December 12, 2008, a loan was extended to Maiden Lane II LLC, which was formed to purchase residential mortgage-backed securities from the U.S. securities lending reinvestment portfolio of subsidiaries of American International Group, Inc. On November 25, 2008, the Federal Reserve Board authorized the FRBNY to extend credit to TALF LLC, which was formed to purchase and manage any asset-backed securities received by the FRBNY in connection with the decision of a borrower not to repay a loan extended under the Term Asset-Backed Securities Loan Facility.


The FRBNY is the primary beneficiary of TALF LLC, because of the two beneficiaries of the LLC, the FRBNY and the U.S. Treasury, the FRBNY is primarily responsible for directing the financial activities of TALF LLC. The FRBNY is the primary beneficiary of the other LLCs cited above because it will receive a majority of any residual returns of the LLCs and absorb a majority of any residual losses of the LLCs. Consistent with generally accepted accounting principles, the assets and liabilities of these LLCs have been consolidated with the assets and liabilities of the FRBNY in the preparation of the statements of condition shown on this release. As a consequence of the consolidation, the extensions of credit from the FRBNY to the LLCs are eliminated, the net assets of the LLCs appear as assets on the previous page (and in table 1 and table 8), and the liabilities of the LLCs to entities other than the FRBNY, including those with recourse only to the portfolio holdings of the LLCs, are included in other liabilities in this table (and table 1 and table 8).


10. Collateral Held against Federal Reserve Notes: Federal Reserve Agents' Accounts
Millions of dollars
Federal Reserve notes and collateral Wednesday
Mar 28, 2012
Federal Reserve notes outstanding 1,233,752
    Less: Notes held by F.R. Banks not subject to collateralization 177,334
        Federal Reserve notes to be collateralized 1,056,418
Collateral held against Federal Reserve notes 1,056,418
    Gold certificate account 11,037
    Special drawing rights certificate account 5,200
    U.S. Treasury, agency debt, and mortgage-backed securities pledged 1,2 1,040,182
    Other assets pledged 0
Memo:  
Total U.S. Treasury, agency debt, and mortgage-backed securities 1,2 2,598,175
    Less: Face value of securities under reverse repurchase agreements 73,071
        U.S. Treasury, agency debt, and mortgage-backed securities eligible to be pledged 2,525,104
Note: Components may not sum to totals because of rounding.


1. 
Includes face value of U.S. Treasury, agency debt, and mortgage-backed securities held outright, compensation to adjust for the effect of inflation on the original face value of inflation-indexed securities, and cash value of repurchase agreements.
2. 
Includes securities lent to dealers under the overnight securities lending facility; refer to table 1A.

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Last update: March 29, 2012